Namibian Copper Mines Inc. Message Board

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Gold/Mining/Energy : Namibian Copper Mines Inc.

NCMI 4.130

-4.7%

Nov 6 3:59 PM EST

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To: KipferlMeister who wrote (40)	2/1/1997 1:03:00 PM
From: O. H. Rundell	of 154

<<Financing is Alan Doyle's area of expertise, so I doubt there'll be any problems -- or much delay.>> Agree completely. Mike Amundson agreed to let me copy the following S10 post regarding his approach to valuing NCMI. Comments are welcome. <<My background is in Real estate Investments, so I look at things from a capitalization approach based on a Net Operating Income. NCMI has stated in the press release that the net operating income will be approximately $140 million per year. If that number is correct, divide by the number of shares (which by then will be about 20 million); and that gives you an EPS of $7. Next, find a studied market factor (back calculate 10 or more copper mining companies that are publicly traded). If you know their share price divide by the EPS and you have that factor. The ten I looked at produced a market factor of about 12. Multiply that number by the EPS and you have an indicated share price. Usually in International Merchant Banking the funding is done with the Company providing 25% of the money to build a plant, and the rest borrowed. I can only assume that NCMI will do a private placement to raise the $150 million to do that.>> <<Anyway we bought some more yesterday. I am going to need therapy to break this buying habit and some day figure out how you go about selling some of this stuff.>> Regards, O. H.

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